{"id":5252,"date":"2018-08-16T00:44:03","date_gmt":"2018-08-15T19:14:03","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=5252"},"modified":"2021-11-20T16:37:19","modified_gmt":"2021-11-20T11:07:19","slug":"corporate-and-professional-updates-16th-aug-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/","title":{"rendered":"corporate and professional updates 16th aug 2018"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f2cf0de0e97\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f2cf0de0e97\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/#corporate_and_professional_updates_16th_aug_2018\" title=\"corporate and professional updates 16th aug 2018\">corporate and professional updates 16th aug 2018<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/#Direct_Tax\" title=\"Direct Tax :\">Direct Tax :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/#INDIRECT_TAX\" title=\"INDIRECT TAX\">INDIRECT TAX<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/#FAQ_on_GST_Audit\" title=\"FAQ on GST Audit:\">FAQ on GST Audit:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/#SEBI_UPDATES\" title=\"SEBI UPDATES\">SEBI UPDATES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/#MCA_UPDATES\" title=\"MCA UPDATES\">MCA UPDATES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/#OTHER_UPDATES\" title=\"OTHER UPDATES\">OTHER UPDATES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-16th-aug-2018\/#KEY_DUE_DATES\" title=\"KEY DUE DATES\u00a0\">KEY DUE DATES\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/4.bp.blogspot.com\/-wNJClJqatnY\/VyitHIW_mDI\/AAAAAAAAJWQ\/aADIWyCr7kwwv9OmGZd_ZtMc0FhhDqH_ACLcB\/s1600\/corporate.jpg\" alt=\"Image result for corporate and professional\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"corporate_and_professional_updates_16th_aug_2018\"><\/span>corporate and professional updates 16th aug 2018<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><strong><em><span style=\"text-decoration: underline;\"><a href=\"https:\/\/carajput.com\/blog\/tag\/direct-tax\/\">Direct Tax<\/a> :<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>Delhi HC dismisses Revenue\u2019s appeal, allows depreciation on the intellectual property rights (IPR) acquired and purchased by assessee co. from Monsanto India Limited during AY 2010-11; HC notes that the IPRs purchased by assessee included trademarks, which were used for the purpose of its trading <a href=\"https:\/\/carajput.com\/blog\/tag\/business-support-service\/\">business<\/a>, in advertising\/sales promotion\/marketing; Rejects Revenue\u2019s stand that depreciation was not allowable as the capital asset in form of intellectual property rights was not put to use for manufacturing activities;\u00a0[TS-440-HC-2018( DEL)]<\/li>\n<li>Delhi ITAT deletes disallowance for donations made by assessee-trust in kind and in cheques, to schools, colleges and other charitable institutions during AY 2013-14, holds that there is no embargo in law\u00a0that a trust has to incur expenditure on its own and it cannot give donation in kind to institutions;\u00a0During relevant AY, assessee donated school bus, laptops, etc (in kind) and made donations to schools\/colleges for scholarship of students, tree plantation, marathon etc., rejects Revenue\u2019s stand that giving such donations cannot be held as charitable activities;[TS-449-ITAT-2018(DEL)]<\/li>\n<li>ITAT remits ALP determination of assessee\u2019s international transaction relating to provision of software design and development services for AYs 2012-13 &amp; 2013-14; Relies on co-ordinate bench ruling in assessee\u2019s own case in AY 2009-10 (subsequently affirmed by HC) wherein assessee&#8217;s internal benchmarking analysis under TNMM on the basis of segmental profitability was upheld;[TS-811-ITAT-2018(2018(DEL)- TP]<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAX\"><\/span><strong><em><span style=\"text-decoration: underline;\">INDIRECT TAX<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>Govt introduced four bills to amend the <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">Goods and Services Tax (<\/a><a href=\"https:\/\/www.caindelhiindia.com\/blog\/application-of-gst-on-contribution-by-rwa-members\/\">GST<\/a><a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">)<\/a> laws which among other things seek to simplify the return forms and raise the turnover threshold for availing composition scheme to Rs 1.5 crore.<\/li>\n<li>Migration cases where Provisional ID received can follow specified process till 31.8.18 to complete registration. Notification 31\/2018 of 6-8-18.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQ_on_GST_Audit\"><\/span><strong><em><span style=\"text-decoration: underline;\">FAQ on <a href=\"https:\/\/carajput.com\/gst\/gst-audit.php\">GST Audit<\/a>:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\">Query:<\/span>What is meant by confiscation?<\/li>\n<li><span style=\"text-decoration: underline;\">Answer:<\/span>The word \u2018confiscation\u2019 has not been defined in the Act. The concept is derived from Roman Law wherein it meant seizing or taking into the hands of emperor, and transferring to Imperial \u201cfiscus\u201d or Treasury.<\/li>\n<li>The word \u201cconfiscate\u201d has been defined in Aiyar\u2019s Law Lexicon as to \u201cappropriate (private property) to the public treasury by way of penalty; to deprive of property as forfeited to the State.<\/li>\n<\/ul>\n<p><strong><em><u>Read more about: <\/u><\/em><em><a href=\"https:\/\/carajput.com\/blog\/what-is-core-business-activity-in-gst\/\">What is core Business Activity GST<\/a><\/em><\/strong><\/p>\n<p><strong><em><u>Read more about<\/u><u>: <\/u><\/em><em><a href=\"https:\/\/carajput.com\/blog\/all-about-gst-offenses-penalties-appeals\/\">All about GST Offenses, Penalties, and Appeals<\/a><\/em><\/strong><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"SEBI_UPDATES\"><\/span><strong><em><span style=\"text-decoration: underline;\">SEBI UPDATES<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/sebi-consulting.php\">SEBI<\/a> is planning to limit investors\u2019 exposure to shares and equity derivatives in line with their net worth, said three people with knowledge of the development.<\/li>\n<li>The move is aimed at preventing individuals from going overboard on equity investments, considered riskier than bonds.<\/li>\n<li>SEBI through its circular has asked Registrars and Share Transfer Agents to comply with enhanced monitoring requirements, through implementation of internal policy framework and periodic reporting on key risk areas, data security measures and governance structures<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"MCA_UPDATES\"><\/span><strong><em><span style=\"text-decoration: underline;\">MCA UPDATES<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>The Registrar of Companies have issued Public Notice under the provisions of the Section 248(5)of the Companies Act, 2013 and applicable Rule 9 of the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016\u00a0for\u00a0for\u00a0Striking\u00a0of Name of\u00a024280 Companies.<\/li>\n<li>Delhi High Court pronounced That a company secretary of a private firm is not mandated to disclose non-filing of balance sheet, profit and loss account and annual return for the previous financial year in his compliance certificate.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"OTHER_UPDATES\"><\/span><strong><em><span style=\"text-decoration: underline;\">OTHER UPDATES<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>CIRC of ICAI is organising Regional Conference 2018 .<span style=\"text-decoration: underline;\">Hosted by\u00a0<\/span>Ghaziabad Branch\u00a0of\u00a0CIRC\u00a0of\u00a0ICAI ,On 18<sup>th<\/sup>&amp;\u00a019<sup>th<\/sup>\u00a0August 2018\u00a0(Saturday &amp; Sunday<em>),\u00a0<\/em>At Hotel Radisson Blu,\u00a0Kaushambi, Ghaziabad,\u00a0Online Payment Link:\u00a0https:\/\/icaigzb.org\/icainew\/pay<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"KEY_DUE_DATES\"><\/span><strong><span style=\"text-decoration: underline;\"><em>KEY DUE DATES<\/em><em>\u00a0<\/em><\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>GSTR-3B (JULY 2018)-AUG 20th, 2018<\/li>\n<li>GSTR-5 (JULY 2018)-AUG 20th, 2018<\/li>\n<li><a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-6<\/a> (JULY 17 \u2013 AUG\u201918)- SEP 30TH, 2018<\/li>\n<li>GSTR-4 (JULY-SEP, 2018)-OCT 18th, 2018<\/li>\n<li>GSTR-5A (JULY 2018)-AUG 20th, 2018<\/li>\n<li>Quarterly return for registered persons with aggregate turnover up to Rs. 1.50 Crores- <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-1<\/a> (JULY- SEP, 2018)-OCT 31ST\u00a0\u00a02018.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>corporate and professional updates 16th aug 2018 Direct Tax : Delhi HC dismisses Revenue\u2019s appeal, allows depreciation on the intellectual property rights (IPR) acquired and purchased by assessee co. from Monsanto India Limited during AY 2010-11; HC notes that the IPRs purchased by assessee included trademarks, which were used for the purpose of its trading &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,172,9,4],"tags":[5655,5657,1296,5660,558,5658,5659,5654,5656],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5252"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=5252"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5252\/revisions"}],"predecessor-version":[{"id":19129,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5252\/revisions\/19129"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=5252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=5252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=5252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}